Crypto Market Sentiment Shifts as CLARITY Act Blocked and Fed Raises Interest Rates

The crypto market has seen a significant shift in sentiment following two major U.S. developments that disappointed traders.

The Senate blocked the CLARITY Act from advancing, and the Federal Reserve raised interest rates by 25 basis points to 3.75%-4.00%.

Santiment's social-media data shows Bitcoin commentary moving back toward neutral after these events.

The shift in sentiment is notable because it indicates that some traders had positioned themselves around expectations for the CLARITY Act, which has now been delayed.